Weak Ni Stainless Cold Sheet Price, Strong Cr Series in Tokyo

The market price of cold-rolled stainless steel sheet is weak for nickel series products while strong for chrome series. The current price is around 490,000-500,000 yen per tonne for base sized SUS304 and around 270,000 yen per tonne for base sized SUS430.

Domestic demand for nickel series sheet maintained stagnant mainly from construction market during January-June. Additionally nickel metal price declined and distributors reduced the procurement with an expectation that makers’ selling price might decrease more. Market inventory didn’t decrease steadily though stainless steel makers continued output reduction. Some distributors offered much cheaper price for spot dealing.

On the other hand, supply and demand balance kept tight for chrome series cold-rolled sheet. Domestic demand was especially strong from automobiles. Sheet market price is in uptrend due to the upsurge of ferrochrome price and the stability of actual demand. A distributor source said the market price would reach 300,000 yen per tonne.

Distributors expect the demand could recover in autumn when seasonal demand emerges every year. However, the demand recovery for nickel series sheet is unforeseeable since the main application is construction related usages and domestic construction market is unlikely to recover soon. As to chrome series sheet, auto related demand would weaken in and after autumn when Japanese automakers including Toyota Motor revised down the production plan for fiscal 2008 ending March 2009.